Flexible short-term fix and flip loan for investors to purchase or refinance and renovate a non-owner-occupied investment property in the Dallas-Fort Worth Metroplex.
Fix and Flip Loan Features
| Loan Amounts | | $50,000-$500,000 | | | | | |
| Interest Rates | | As low as 11% interest-only, monthly payments | | | | | |
| Origination Fee | | As low as 1% of loan amount, payable at closing | | | | | |
| Term | | 6-12 months, options to extend | | | | | |
| Pre-Payment Penalty | | None | | | | | |
| Extension Fee | | 1% fee per 60-day extension, 1.5% fee per 120-day | | | | | |
| Property Types | | Non-Owner Occupied:
– Single Family Residence (SFR)
– Townhouses
– Condominium (excluding condotels)
– Planned Unit Development (PUD) | | | | | |
| Loan-To-Cost (LTC) | | Up to 85% Purchase Price | | | | | |
| Rehab/Construction | | Up to 100% | | | | | |
| After Repair Loan-To-Value (LTV) | | Up to 65% After Repair Value (ARV) | | | | | |
| Recourse | | Full Recourse | | | | | |
Borrower Qualifications
| Credit Score | 620+ |
| Experience | 2+ exits within 12 months |
| Borrower Type | Entity |
| Bank Statements | Last 2 months |
Lender Specific Closing Costs
| Submission Fee | $399 (credit back at closing) |
| Underwriting Fee | $499 (paid at closing) |
| Wires/ACH | $30/$10 each |
Excludes title, insurance, legal, etc.